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Coins, Currency, and Medals

The Museum possesses one of the largest numismatic collections in the world. The collections include over 1 million objects, comprising coins, medals, decorations, and pieces of paper money. Among the many great rarities here are some of the world’s oldest coins, created 2,700 years ago. But the collection also includes the latest innovations in electronic monetary exchange, as well as beads, wampum, and other commodities once used as money. A special strength lies in artifacts that illustrate the development of money and medals in the United States. The American section includes many rare and significant coins, such as two of three known examples of the world's most valuable coin, the 1933 double eagle $20 gold piece.

United States Mint, Philadelphia. Obverse: Capped head of Liberty facing left, stars around, date below. Reverse: Eagle, motto above, denomination below. Seven quarter eagle proofs are known for the year 1821, but only two proof half eagles are known for this year. This coin is one of them.

United States Mint, Philadelphia. Obverse: Capped head of Liberty facing left, stars around, date below. Reverse: Eagle, motto above, denomination below. In this design, Robert Scot's pedestrian head replaced John Reich's more artistic design of 1808. This coin is one of a handful of proofs struck in this year and in those years immediately after. Proof coins are specimen strikes for the record, for sale or trade, or for distribution to dignitaries in presentation sets. Proof coinage did not become popular or plentiful in the United States until after the Civil War. Therefore, proofs like this one that date from as early as the 1820s and 1830s are among America's most legendary coins.

United States Mint, Philadelphia. Obverse: Liberty head with coronet facing left, thirteen stars surrounding, date below. Reverse: Denomination within a single wreath. Robert Scot created these designs, which remained in use between 1816 and 1835.

Cents of this type are likely to have been seen by almost every collector for they are among the most common of early American coins. But this coin is not common. The year 1823 is one of the scarcer dates in the cent series. In addition, this coin is an "overdate." It was created from an earlier die (for 1822 cents) that was softened, redated for the current year, hardened, and put back into service. Overdates are quite common among early American coins, as a fledgling United States Mint tried to cut corners wherever it could.

Finally, this coin is a "proof." It was struck on a highly polished planchet (a disk of metal cut and prepared for striking as a coin) under far more exacting standards than ordinary coins. It has been estimated that only two other proof 1823/2 cents exist.

United States Mint, Philadelphia. Obverse: Capped head of Liberty facing left, stars around, date below. Reverse: Eagle, motto above, denomination below. The obverse die for this proof was created in 1821, then recycled for the production of proof coins a few years later. The coin it produced is called an overstruck 1825 coin, or 1825/1 (1825 over 1821) in technical terms. This is one of two known 1825/1 proof half eagles. Two 1825/4 (1825 over 1824) coins made with a recycled 1824 die have also been discovered.

United States Mint, Philadelphia. Obverse: Capped head of Liberty facing left, stars around, date below. Reverse: Eagle, motto above, denomination below. Only two proof half eagles are known with a perfect 1828 date. This is one. Add the known number of surviving strikes for regular circulation and there is still a total of only eight coins!

United States Mint, Philadelphia. Obverse: Capped head of Liberty facing left, stars around, date below. Reverse: Eagle, motto above, denomination below. This 1829 proof quarter eagle introduces us to a modified coining technique and to a slightly modified design. The coin (and its multiple, the half eagle) would henceforth be struck using a one-piece, "close" collar. Also, a third die whose vertical striations produced the familiar "reeded" edge we still see on coins today.

Striking the quarter and half eagles in a collar resulted in better metal flow and sharper detail. But it also required modest changes in the obverse and reverse designs. The work was carried out by William Kneass. As many as a dozen 1829 proof quarter eagles including this one may exist. Most have been damaged by handling.

United States Mint, Philadelphia. Obverse: Head of Liberty facing left, date below. Reverse: Eagle with motto above, denomination below. Eighteen thousand half eagles designed by Robert Scot were struck in 1822. Virtually all of them were melted down. Two of the three survivors are in the National Numismatic Collection. This one transferred from the U.S. Mint together with the specimen acquired with the Lilly Collection are legendary rarities of American numismatics.

United States Mint, Philadelphia. Obverse: Capped head of Liberty facing left, stars around, date below. Reverse: Eagle, motto above, denomination below. The 1829 half eagle comes in two types, large-module, struck before the introduction of the restraining collar, and small-module, struck afterwards. One proof is known for the first category, three for the second. The Smithsonian proof is from the second group. The most obvious way of distinguishing the two types is by means of the date. The date is large on Type 2, much smaller on Type 2.

United States Mint, Philadelphia. Obverse: Capped head of Liberty facing left, stars around, date below. Reverse: Eagle, motto above, denomination below. Perhaps three proofs including this one exist in this denomination exist for 1825. All of the early proof coins in the National Numismatic Collection came to the Smithsonian Institution as a result of the transfer from the U.S. Mint during the 1920s.